The efficient collection of utility bill data is very critical for energy management. A well-structured approach toward managing utility bill data helps organizations plan strategies for smooth and efficient operations. It also allows them to submit energy use disclosure following the energy commission standards.
According to a study by Deloitte into 2023 power and utility industry outlook showed the following results:
- U.S. electricity sales continued to gain momentum amid the post-pandemic recovery phase, increasing 3.6% in the first eight months of 2022 than the previous year.
- Utilities increasingly plan to roll out the next wave of advanced metering infrastructure.
- There has been a frenzy of green hydrogen activity, which is likely to accelerate in 2023 and beyond.
- Environmental, Social and Governance reporting is growing swiftly.
Firms have faced considerable challenges in gathering utility bills to form efficient databases. Updating the utility bill monthly data across various operating units can become a daunting task. Another challenge is that utility bills from different vendors in non-identical formats. It requires a specific platform to process all the utility bills to gain efficiency quickly.
Additionally, data security in these tasks requires enormous effort. Therefore, business managers do not get access to the utility data in real-time or even if they do, manually working on such tasks could result in high staff costs and might be error-prone.
The Role of Business Process Outsourcing Companies
Business Process Outsourcing companies (BPOs) have stepped in to help companies record and maintain their utility data bill management efficiently. Outsourcing the task to a third-party ensures significant accuracy and enhancement of cycle times.
ARDEM is a business process outsourcing company that offers end-to-end services for established companies to help them attain greater efficiency and cost optimization. ARDEM caters to utilities and energy outsourcing services from the receipt of a bill to payments. Clients who choose ARDEM to delegate such operations benefit from increased visibility, lower costs and enhanced sustainability efforts.
How can BPOs Help?
Here is a deep dive into how utilities are expected to improve in 2023 with BPO service companies
1. Advanced Technology
Outsourcing companies use advanced technological tools to devise management systems that can accurately build reliable databases for utility data collection. ARDEM uses machine learning and artificial intelligence to streamline utility data bill collection.
2. Well-Structured Systems
Utility bills come in varying formats, and outsources are equipped with well-defined systems to extract data efficiently and promptly. ARDEM data capture extracts utility bill data from specific fields using advanced innovations.
3. Cloud Network
Outsourcing companies have access to advanced technologies such as a cloud network where utility data entry can efficiently occur. ARDEM has an advanced cloud network that facilitates easy and efficient management of utility data bills.
4. Real-Time Updates
A key issue in manual utility data bill collection is a tedious activity. It takes significant time for employees to collect, report and present the utility data to managers. The technologies and software used by outsourcing companies like ARDEM help firms present data in real time to managers to make timely decisions.
5. Notifications for Vendors
BPO service companies such as ARDEM help generate automatic notifications for vendors to accelerate processing and reduce cycle time.
Business Process Outsourcing companies use the latest technology, software and resources to create a well-defined platform for firms to manage utility data bills smoothly for efficient management. It also helps in cost optimization for the companies in addition to various benefits, such as providing real-time updates to business managers.
ARDEM provides Business Process Outsourcing and Business Process Automation Services to established companies to help them improve operational Efficiency and Reduce Costs. For more information please reach out to us at email@example.com or call us at 908-359-2600.